Bennett, Coleman and Co Ltd (BCCL) has acquired a stake in Bangalore-based Karuturi Networks engaged in the business of floriculture, processing foods — gherkins and information technology.
Karuturi has tied up with the Future group and is looking at their outlets for marketing flowers on a revenue-share basis under a brand called Flower Express. The company plans to enter the retail space through shop-in-shops, kiosks and exclusive brand stores through tie-ups with other groups.
Karuturi Networks also plans to lay out a series of high and exclusive branded stores called Autumn and Spring in six cities.
One of the largest global cut rose producers, Karuturi has a strong presence in over 15 countries including Holland, Germany, the UK, Italy and Singapore. The company has a production base in Ethiopia and is looking to acquire more rose-growing capacities both in India and Kenya.
Karuturi is set to enter the processed foods market with the setting up of a bottling plant to pack gherkins for European consumer markets. The company's IT wing operates in three spaces — providing internet services, software development and marketing niche technology products and services.
Source : Times of India